Wealthsimple’s total assets climb 93% year over year
Q2 2025 business update
August 12, 2025
August 11, 2025 [Toronto, ON] – Wealthsimple, the financial services company on a mission to help everyone achieve financial freedom, ended the second quarter with $84 billion assets under administration, up 15.8% from the previous quarter and up 93.8% from a year ago.
Wealthsimple aims to make managing money easier, more accessible and more human by combining technology and financial expertise to bring innovative products to Canadians. Today, more than three million Canadians trust Wealthsimple and its expansive product suite which includes managed portfolios, self-directed investing, banking services, mortgages and tax filing.
“As we innovate and evolve our product suite, our clients are responding by consolidating more of their financial lives onto our platform,” said Jeff Gowen, Chief Financial Officer, Wealthsimple. “As a result, we're seeing healthy deposits across our savings and investment products, as well as excitement from both existing and prospective clients around highly anticipated new features such as margin accounts, extended trading, and our first credit card.”
In the last year, Wealthsimple’s non-tax-filing clients have grown 13.3%.
Highlights for the quarter
In June, the company introduced Wealthsimple Presents, a new product event series, to share the company’s latest product updates and look at what’s next in the future of money in Canada. The first edition was titled The End of Banking? and focused on offering Canadians with on-demand banking services, without the traditional fees or the need to visit a bank branch. More than 170,000 Canadians viewed the product livestream, with hundreds of clients attending in person at Toronto’s Evergreen Brickworks.
This past tax season, more than 1.7 million tax returns were filed using Wealthsimple Tax as of April 30, 2025, representing about 1 in 5 Canadians who filed themselves during the 2024 tax year.
Over the quarter, the company launched many new features and products, such as:
- Self-directed RESP and Spousal RRSP investing accounts for retail investors, as well as self-directed corporate investing accounts for business owners.
- 24/5 trading and rolling options for more sophisticated investors.
- Upgrades to its growth portfolios, allowing clients to further personalize asset weighting and market exposures.
- Improved banking services by adding bank drafts, mobile cheque deposit, wire transfers, USD savings accounts, and more.
- Listing its 100th cryptocurrency, an exciting milestone for Canada’s first regulated crypto trading platform.
- Adding Deferred Profit Sharing Plan (DPSP) as part of Wealthsimple for Business' employee savings plans.
- Launching the waitlist for the company’s first credit card, which has reached over a quarter million Canadians in only two months.
Other milestones include a strategic acquisition of wealth management platform Plenty, to expand the company’s householding features and make it easier for families to save and invest together. Wealthsimple also announced its new early talent initiative, Launchpad; a year-long paid internship for recent high school graduates that gives them hands-on work experience without a degree.
As Wealthsimple looks ahead to the second half of 2025, it remains focused on growing its assets and working towards its previously set target of $100-billion assets by December 2028. The company will announce its next wave of product features at the second Wealthsimple Presents product showcase, scheduled for Fall 2025, focused on its investing product roadmap.
About Wealthsimple
Wealthsimple is one of Canada’s fastest growing and most trusted money management platforms. The company offers a full suite of simple, sophisticated financial products across managed investing, do-it-yourself trading, cryptocurrency, tax filing, spending and saving. Wealthsimple currently serves 3 million Canadians and holds over $80-billion in assets. The company was founded in 2014 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto, Canada. To learn more, visit www.wealthsimple.com.